WHAT IF I CASH DEPOSIT MORE THAN 10 LAKH IN SAVING ACCOUNT in a year
This query is : Resolved
PRABHAT PAL
(Querist)
29 October 2022
WHAT IF I CASH DEPOSIT MORE THAN 10 LAKH IN SAVING ACCOUNT in a year
in small deposits in different dates below 1 lakh each . can I get incometax notice ?
in small deposits in different dates below 1 lakh each . can I get incometax notice ?
Dhirajlal Rambhia
(Expert)
29 October 2022
As banks have to report the cash deposited in any savings account/s, when the aggregate amount is Rs. 10 lakhs or more in any FY. Based on these reporting IT department send query for its explanation.
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